Bank of Albania Governor Gent Sekjo has expressed publicly his stance about the action of the government to fight the informality, by supporting the initiative which, as he stated, “will give positive effects in country’s economy”.
“Bank of Albania evaluates country’s economic growth in the past months and is optimistic about the progressive economic growth of Albania in the two upcoming years. Bank of Albania foresees that country’s economy will continue increasing, arguing that figures of July show an increase of state budget revenues and an improvement of the business climate in the country.”
Speaking about the inflation, Sejko declared that for 2015 the inflation rate will be 1.9% while for 2017 the Bank predicts an economic increase of 3%. The trade deficit reduced by 4.6%, due to the increase of exports of the electrical energy produced in the country. “Fiscal figures for July of this year show that revenues to the state budget increased slightly as well as public expenses. We are noticing a gradual economic growth and this is a consequence of the current risks the economy faces from international factors and local actors. Foreign and domestic investments are not at their optimal level,” declared Governor Sejko.
According to him, the Bank of Albania will undertake several policies in boosting investments and entrepreneurship, adding that the country needs to accelerate the structural reforms in the economic sector.
News source/photo credits: ATA